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Moment of the month - December 2021
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Location: Sunset Beach, QLD
LVR: 43%
Loan Amount: $1.5M
Use of Funds: Buy Now, Sell Later®
Scenario: There’s no doubt that the festive month of December can be a busy one, especially for the booming Australian property market. Earlier this month, NSW Macmasters Beach homeowner, Frances found the perfect property for her daughter to relocate to in tropical QLD.
However, due to such a tight turnaround time prior to Christmas, Frances was unable to secure financing from any other lender. 24hrs after reaching out to Bridgit, Frances was unconditionally approved for her bridging loan and was able to successfully purchase her new QLD home.
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Fintech Bridgit has today shared that Macquarie Bank’s Commodities and Global Markets Group (Macquarie) has increased its existing funding facility to Bridgit, taking total funding to over $1.7 billion.
Bridgit trademarks ‘Buy Now, Sell Later®’ as the business continues to dominate the home equity space
Bridgit has today announced the successful trademark of ‘Buy Now, Sell Later®’, marking a significant milestone for the business as it continues to dominate the home equity and bridging finance space.
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Eligibility and approval is subject to standard credit assessment and not all amounts, term lengths or rates will be available to all applicants. Fees, terms and conditions apply.
¹The Stay Rate will only apply if a repayment is made from the sale of Outgoing Properties (or another repayment method approved by us, at our discretion) and the repayment reduces the Amount You Owe to an amount that is equal to or less than your Residual Loan Balance.
^Comparison rate is calculated on a $150,000 secured loan over a 25-year term. For Upsizer loans, a Bridge Rate applies for the first 12 months, followed by a Stay Rate thereafter. For Downsizer loans, only the Bridge Rate applies. WARNING: This comparison rate is true only for the example provided and may not include all fees and charges. Different loan amounts, terms, or fee structures will result in different comparison rates. For interest-only periods, your loan balance does not reduce, meaning you may pay more interest over the life of the loan. Set-up fee from 0.60% and government charges apply.